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U.S. Bank Premier Loan review November 2017

Look into a personal loan that comes with competitive fixed rates to meet your financial goals.

First, am I eligible?

To qualify for the best rates for a U.S. Bank Premier Loan, you must:

  • Have a credit score of 760 or higher.
  • Have a U.S. Bank Consumer Silver, Gold or Platinum Checking Package account.
  • Have verifiable income.

Applicants with lower credit scores may qualify, but expect a higher interest rate.

What is a U.S. Bank Premier Loan?

This personal loan from U.S. Bank offers funding from $3,000 to $25,000. Pay competitive fixed rates and no annual fees to fund big events and purchases or consolidate what you currently owe.

  • Consolidate debt. Save money by gathering multiple debts into one lower monthly payment at rates as low as 6.99% APR.
  • Improve your home. With a personal loan, you can fix that leaky roof, add on a new patio or upgrade your home’s heating system. You may even qualify for U.S. Bank’s 1% green home improvement discount.
  • Make major purchases. Use this loan to pay for a car, vacation or a wedding and ease your financial burden.

Product details

Product nameU.S. Bank Premier Loan
Loan securityUnsecured
Repayment typeFixed
Minimum loan$3,000
Maximum loan$25,000
Application fee$0

Compare your other personal loan options

Rates last updated November 20th, 2017

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Unfortunately, none of the personal loan providers offer loans for that credit score. If you are in urgent need of a small loan, you might want to consider a short term loan.
Name Product Product Description Min. Credit Score Max. Loan Amount APR Requirements
Laurel Road Personal Loans
Get a personal loan with no application or origination fees and a rate discount for autopay.
680
$45,000
From 5.5% (fixed)
Must be a US citizen or permanent resident with a valid I-551 card
Even Financial Personal Loans
Get matched to the best loan offer instantly from top online consumer lenders.
580
$100,000
From 4.99% (fixed)
Must have a minimum credit score of 580+. Must be 18+ years old and be an American citizen or permanent resident.
Prosper Personal Loan
Borrow only what you need for debt consolidation, home improvements, special occasions and more — with APRs based on your credit score.
640
$35,000
From 5.99% (fixed)
Must be 18+ years old, an American citizen or US permanent resident and have a 640+ credit score.
SoFi Personal Loan Fixed Rate (with Autopay)
Borrow up to $100,000 with a competitive APR and no fees.
Good to excellent credit
$100,000
From 5.49% (fixed)
You must be a U.S. citizen or permanent resident, and 18 years or older.
LendingPoint Personal Loans
Get a personal loan with reasonable rates even if you have a fair credit score in the 600s.
600
$25,000
From 15.49% (fixed)
Must have a fair credit score of 600 or better and verifiable income. Must live in a state where LendingPoint services.
LendingClub Personal Loan
A peer-to-peer lender offering fair rates based on your credit score.
660
$40,000
From 5.99% (fixed)
You must be over 18 years of age, a permanent resident of the US or an American citizen and have a steady source of income.

Compare up to 4 providers

What are the benefits of a U.S. Bank Premier Loan?

  • Fixed rates. Monthly payments won’t fluctuate to help you budget for repayment.
  • No home inspections or appraisals. If you’re looking to fund a home improvement, skip the requirements that come with a home loan.
  • Quick process. Apply online, over the phone or at your local U.S. Bank branch through a process designed to get you the funds you need quickly.

What to watch out for

U.S. Bank offers convenience and speed to get you the funds you need. But consider a few factors before applying.

  • Rates vary by credit. To determine your loan amount and rates, U.S. Bank will check your credit report and verify your employment.
  • Potentially high rates and payments. Banks consider unsecured loans a riskier financial product than those secured by property, which could mean higher rates and payments.

Am I eligible for a U.S. Bank Premier Loan?

To be eligible for a loan with U.S. Bank, you need to:

  • Be a current U.S. Bank member. U.S. bank requires borrowers to set up autopay from a Silver Gold or Platinum checking account.
  • Have excellent credit. Borrowers with a credit score of 760 or higher qualify for the lowest rates.
  • Have verifiable income. You must be able to provide proof of employment and other forms of personal income.

What information do I need to apply?

Apply for a personal loan online, over the phone or at your local U.S. Bank branch by providing personal and financial details that include:

  • Your full name and contact information
  • Your Social Security number and date of birth
  • Proof of employment, such as W-2s and pay stubs
  • Your monthly income and debt payments
  • The total amount of your assets

I got the U.S. Bank Premier Loan. Now what?

  • Making your payments. Repay your loan online, at a branch, by phone or through U.S. Bank’s mobile app. You can even set up autopay for deductions that work around your pay dates.
  • Avoid late fees and other penalties. Set up autopay for deductions that work around your pay dates.

Bottom line

A personal loan with this highly rated bank can be an ideal way to pay for a big purchase or consolidate debt. But these loans may come with higher rates and payments than a loan that’s secured by property.

Before you decide on a personal loan, compare the personal loan options available for your needs.

Frequently asked questions about U.S. Bank Premier Loans

Larger purchases typically require more time to pay off, and a personal loan typically comes with interest rates that are lower than your typical credit card.

If the car you’re interested in costs less than $25,000, it may work for your needs. But you may want to consider an auto loan designed specifically for this type of purchase.

A secured loan is a loan that protects the lender from default through collateral, such as the borrower’s home or car. If the borrower defaults, the lender can take possession of the collateral to recover the loan amount.

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2 Responses

  1. Default Gravatar
    WalterOctober 12, 2017

    I applied for a us bank premier loan on 10/10/2017, I requested $10,000, now the online application status says loan amount $6000 but the application still in process. They sent me an e mail with a letter that states that my credit score is 684. What are the odds of getting approved for this loan?

    • Staff
      LiezlOctober 13, 2017Staff

      Hi Walter,

      Thanks for reaching out.

      A credit score of 684 is a good rating. However, your credit score alone will not qualify or disqualify you for a loan although this determines your loan amount, rate and term. The bank will assess your overall eligibility based on the criteria mentioned above. Now if you’re unsure of your eligibility, I suggest you contact the bank and verify.

      Kind regards,
      Liezl

US Personal Loans Offers

Learn about our information service
Prosper Personal Loan

Borrow only what you need for debt consolidation, home improvements, special occasions and more — with APRs based on your credit score.

LendingClub Personal Loan

A peer-to-peer lender offering fair rates based on your credit score.

SoFi Personal Loan Fixed Rate (with Autopay)

Borrow up to $100,000 with a competitive APR and no fees.

Upstart Personal Loans

This newer service looks beyond your credit score to get you a competitive-rate personal loan funded by accredited investors.